There's a hell of a lot buying pressure there
Eventually, it will crack.  It's strange, really... there's no wall or anything.  Just resistance.

I've been here since spring yes, I was up to 150% of my initial investment, then i hit a low of about 40%, im back up to 75%... and im so very weary now of the volitility of this market.

but it looks like the price has been fairly stable, i hope i dont miss the next rally 

Whats there religion got to do with it?

Got scared and sold at 5.8ish, have I made a mistake? in any case I've profited for the day, and I need to sleep now (If possible I never sleep with BTC in my pocket, I could wake up with dirt for money)

Long time since i've seen 5am sober. zzzzzz

off all you fools



see you guys down in the low 3's

...
From the data above, you can see that over the past 10 days there has been a net selling activity of $442,034, yet somehow the price has stayed at roughly the same level. There has not been one single day where the buy volume in dollars has exceeded the selling volume in dollars.

To me, this is a stark indication of profit taking. In addition, there is significant market manipulation going on keeping the price artificially afloat in order to take more and more money from buyers. Despite all the selling, it was all followed by low volume rebuys occurring right after the sales in order for the big players to 'cover their tracks' if you will.
...

Non techie investors. Love it. Who else but a geek would involve themselves with bitcoin, even now?
Even many of us 'smart' folk still are failing to understand what we have created, so what hope is there for the meatheads?
It's the same people with the same money and the same coins (plus some new ones that have yet to hit the markets).

I understand what you are saying, but with Bitcoin all the information is there for those who care to see it. So you are wealthy and can buy 1,000,000 Bitcoins. You make waves when you enter and exit the market. As you buy, you will increase the price. As you sell, you will decrease the price. Plus there are other people in the market. If someone tries to corner the market, good for them, who cares? Sell your coins when you think they are overpriced and buy them back when you think they are under priced. To be a manipulator, one is faced with the same risks that anyone who plays the market faces. What happens when there are two large players trying to make money off the other?

We know how many Bitcoins exist. You can compare them to diamonds and say they are manipulated, but it's a poor comparison. The amount of diamonds in existence can be concealed by the people mining them. It just doesn't work that way with Bitcoin. Even gold doesn't have the transparency of Bitcoin. Plus I would say gold is a fairly regulated market. Regulations themselves are a form of control.

So what is the problem? If you don't like how someone is influencing the market, stop playing by their rules. For someone to manipulate the market, there has to be a group of manipulated that are playing along.

Until Bitcoin is 40 times as popular as it is now, it will be fairly easy to influence the price. Even then, it will still be able to be influenced.

I guess what I'm asking is why do you care? Are you trying to use Bitcoin as a medium of exchange? Don't hold Bitcoin. Or are you trying to make money off Bitcoin? In that case, what is the difference between you and a manipulator, other than scale? Or you want Bitcoin to be seen as something other than a toy for speculators? Then work towards creating a product or service that is in huge demand and only accept Bitcoin as payment.

That his customers were long was disclosed by Zhoutong last night after bitcoinica ran out of USD.  I for one am boycotting Bitcoinica until they move away from fractional reserve and hold assets to back every position.  Regarding disclosure, I would prefer the long vs. short balance updated in real time on the site, but I will not boycott for that if they solve the backing issue.  With realtime long/short balance users would know if they were taking a position that had a large risk of being squeezed.

I'm just trying to understand the mentality.

Dwolla Instant is a non-issue. They have already been overwhelmed and had to cut the service off. Another amateur move by dwolla, but did anyone see giving away free money as going well?

Regarding the slump...what slump? Bitcoin is double the price of last month.

I'm using 'oscillator' in the sense that it produces a signal that alternates above and below a center line.

The way it works:
the main thing to look at are the bars. You can think of the bars as forming mountains, a set above zero and a set below zero. from a positive peak to a negative peak (or positive valley for weaker movements) indicates a wave down. they are colored green for a positive slope, red for a neg. slope to help identify peaks and valleys.

the breakout bands (dark green) help identify strong movements.

the pullback lines are like how far 'down' the next valley should be from the peak to indicate a coming strong movement.

Did I answer your question well?

Money doesn't disappear, it changes hands. Stop worrying so much about what other people are doing with their money and start worrying about what you're doing with yours.

Also, if you are so interested in how much money is coming in to Bitcoin, why not do something to get more money into it? Speculation = circle jerk of people who can't "do".

1. up Dec  1 - $3.14
2. dn Dec  4 - $2.63 (50% retrace)
3. up Dec 19 - $4.5
4. dn (pick your own retrace target) 50% would be =~$3.57
5. up ~$5.8+ target